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CRFB Fiscal Experts Available to Discuss CBO Long-term Budget Outlook

CBO Report Released Today Underscores Dire Fiscal Outlook
Published:   June 5, 2012

WASHINGTON, DC – Fiscal experts from the Committee for a Responsible Federal Budget are available to discuss the Congressional Budget Office’s (CBO) new Long-Term Budget Outlook, which makes projections regarding future spending, revenues, deficits, and debt. The report, released today, indicates a dire outlook, with public debt reaching 200 percent of the economy by 2037 under current policy projections.

As a result of an aging population and growing health care costs, the report projects unsustainable debt growth if the country continues on its current path. Such growth would best be addressed with a bold, thoughtful, and gradual plan to stabilize the debt over the medium term and substantially reduce long-term debt levels.

The CBO Long-Term Budget Outlook can be viewed at: http://cbo.gov/sites/default/files/cbofiles/attachments/06-05-Long-Term_Budget_Outlook.pdf

The following budget and fiscal policy experts are available for media interview to discuss the budget outlook:

Maya MacGuineas, President, Committee for a Responsible Federal Budget http://crfb.org/biography/maya-macguineas

Marc Goldwein, Sr. Policy Director, Committee for a Responsible Federal Budget http://crfb.org/biography/marc-goldwein

To arrange an interview, please contact Chris Dreibelbis at 202-596-3480 or dreibelbis@crfb.org

About the Committee for a Responsible Federal Budget:

The Committee for a Responsible Federal Budget (www.CRFB.org) is a bipartisan, non-profit organization committed to educating the public about issues that have significant fiscal policy impact. The Committee is made up of some of the nation's leading budget experts including many of the past Chairmen and Directors of the Budget Committees, the Congressional Budget Office, the Office of Management and Budget, the Government Accountability Office, and the Federal Reserve Board.